News Release

PLANO, Texas--(BUSINESS WIRE)--Nov. 2, 2018--
Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture
exhibitors in the world, today reported results for the three and nine
months ended September 30, 2018.

Cinemark Holdings, Inc.’s total revenues for the three months ended
September 30, 2018 increased 6.1% to $754.2 million compared to
$710.8 million for the three months ended September 30, 2017. For the
three months ended September 30, 2018, admissions revenues increased
0.6% to $427.6 million and concession revenues increased 6.9% to
$264.1 million. For the three months ended September 30, 2018,
attendance increased 3.7% to 69.8 million patrons, average ticket price
was $6.13 and concession revenues per patron increased 3.0% to $3.78.

Net income attributable to Cinemark Holdings, Inc. for the three months
ended September 30, 2018 increased 31.7% to $50.2 million from
$38.1 million for the three months ended September 30, 2017. Diluted
earnings per share for the three months ended September 30, 2018 was
$0.43 compared to $0.33 for the three months ended September 30, 2017.

Adjusted EBITDA for the three months ended September 30, 2018 increased
9.6% to $168.4 million compared to $153.7 million for the three months
ended September 30, 2017. Reconciliations of non-GAAP financial measures
are provided in the financial schedules accompanying this press release
and at investors.cinemark.com.

“Cinemark again delivered remarkable results during the third quarter.
We are pleased to report that ongoing execution of our strategic
initiatives, coupled with our sustained operating discipline, enabled us
to capitalize on strong film content and generate worldwide growth
across our key metrics,” stated Mark Zoradi, Cinemark’s Chief Executive
Officer. “Furthermore, continued momentum at the North American box
office, which is up 8.7% year-to-date and has been propelled by
year-over-year attendance growth, reinforces the strength and stability
of the theatrical exhibition industry.”

Cinemark Holdings, Inc.’s total revenues for the nine months ended
September 30, 2018 increased 8.1% to $2,423.2 million compared to
$2,241.6 million for the nine months ended September 30, 2017. For the
nine months ended September 30, 2018, admissions revenues increased 2.8%
to $1,389.1 million and concession revenues increased 6.9% to
$831.2 million. For the nine months ended September 30, 2018, attendance
increased 1.8% to 214.7 million patrons, average ticket price was $6.47
and concession revenues per patron increased 4.9% to $3.87.

Net income attributable to Cinemark Holdings, Inc. for the nine months
ended September 30, 2018 increased 14.9% to $194.4 million from
$169.1 million for the nine months ended September 30, 2017. Diluted
earnings per share for the nine months ended September 30, 2018 was
$1.66 compared to $1.45 for the nine months ended September 30, 2017.

Adjusted EBITDA for the nine months ended September 30, 2018 increased
8.8% to $583.4 million compared to $536.2 million for the nine months
ended September 30, 2017. Reconciliations of non-GAAP financial measures
are provided in the financial schedules accompanying this press release
and at investors.cinemark.com.

As of September 30, 2018, the Company’s aggregate screen count was 6,014
and the Company had commitments to open five new theatres and 35 screens
during the remainder of 2018 and 20 new theatres and 191 screens
subsequent to 2018.

Live Webcast/Replay: Available live at investors.cinemark.com.
A replay will be available following the call and archived for a limited
time.

About Cinemark Holdings, Inc.

Cinemark is a leading domestic and international motion picture
exhibitor, operating 541 theatres with 6,014 screens in 41 U.S. states,
Brazil, Argentina and 13 other Latin American countries as of
September 30, 2018. For more information go to investors.cinemark.com.

Forward-looking Statements

This press release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
“forward-looking statements” include our current expectations,
assumptions, estimates and projections about our business and our
industry. They include statements relating to future revenues, expenses
and profitability, the future development and expected growth of our
business, projected capital expenditures, attendance at movies generally
or in any of the markets in which we operate, the number or diversity of
popular movies released and our ability to successfully license and
exhibit popular films, national and international growth in our
industry, competition from other exhibitors and alternative forms of
entertainment and determinations in lawsuits in which we are defendants.
You can identify forward-looking statements by the use of words such as
“may,” “should,” “could,” “estimates,” “predicts,” “potential,”
“continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and
“intends” and similar expressions which are intended to identify
forward-looking statements. These statements are not guarantees of
future performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control and difficult to predict
and could cause actual results to differ materially from those expressed
or forecasted in the forward-looking statements. In evaluating
forward-looking statements, you should carefully consider the risks and
uncertainties described in the “Risk Factors” section or other sections
in the Company’s Annual Report on Form 10-K filed February 23, 2018. All
forward-looking statements attributable to us or persons acting on our
behalf are expressly qualified in their entirety by these cautionary
statements and risk factors. Forward-looking statements contained in
this press release reflect our view only as of the date of this press
release. We undertake no obligation, other than as required by law, to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.

Cinemark Holdings, Inc.

Financial and Operating Summary

(unaudited, in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2018

2017

2018

2017

Statement of income data:

Revenues

Admissions

$

427,616

$

425,128

$

1,389,110

$

1,351,477

Concession

264,165

247,027

831,243

777,573

Other

62,454

38,593

202,906

112,503

Total revenues

754,235

710,748

2,423,259

2,241,553

Cost of operations

Film rentals and advertising

230,121

226,229

758,242

725,603

Concession supplies

42,720

40,178

134,577

124,117

Salaries and wages

92,495

87,305

285,997

261,318

Facility lease expense

80,592

81,919

243,873

248,569

Utilities and other

112,832

92,341

337,866

271,751

General and administrative expenses

38,299

36,947

123,714

112,997

Depreciation and amortization

64,971

58,052

193,656

174,545

Impairment of long-lived assets

1,641

5,026

5,020

9,600

Loss on disposal of assets and other

7,826

8,576

28,666

9,464

Total cost of operations

671,497

636,573

2,111,611

1,937,964

Operating income

82,738

74,175

311,648

303,589

Interest expense

(27,144

)

(26,317

)

(82,725

)

(79,208

)

Loss on debt amendments

—

—

(1,484

)

(246

)

Interest income

2,761

1,682

7,861

4,395

Foreign currency exchange gain (loss)

(3,126

)

584

(6,947

)

2,018

Distributions from NCM

2,386

2,144

12,168

11,704

Interest expense - NCM

(4,983

)

—

(14,875

)

—

Equity in income of affiliates

14,158

10,902

29,208

26,767

Income before income taxes

66,790

63,170

254,854

269,019

Income taxes

16,169

24,630

59,592

98,475

Net income

$

50,621

$

38,540

$

195,262

$

170,544

Less: Net income attributable to noncontrolling interests

393

401

878

1,438

Net income attributable to Cinemark Holdings, Inc.

$

50,228

$

38,139

$

194,384

$

169,106

Earnings per share attributable to Cinemark Holdings, Inc.'s common
stockholders

Constant currency amounts, which are non-GAAP measurements, were
calculated using the average exchange rate for the corresponding
month for 2017. We translate the results of our international
operating segment from local currencies into U.S. dollars using
currency rates in effect at different points in time in accordance
with U.S. GAAP. Significant changes in foreign exchange rates from
one period to the next can result in meaningful variations in
reported results. We are providing constant currency amounts for our
international operating segment to present a period-to-period
comparison of business performance that excludes the impact of
foreign currency fluctuations.

Other Segment Information

(unaudited, in thousands)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2018

2017

2018

2017

Adjusted EBITDA (1)

U.S.

$

132,652

$

108,854

$

476,907

$

402,902

International

35,740

44,818

106,518

133,329

Total Adjusted EBITDA (1)

$

168,392

$

153,672

$

583,425

$

536,231

Capital expenditures

U.S.

$

65,458

$

65,612

$

195,104

$

221,604

International

17,915

14,318

50,858

41,126

Total capital expenditures

$

83,373

$

79,930

$

245,962

$

262,730

(1)

Adjusted EBITDA represents net income before income taxes, interest
expense, interest income, foreign currency exchange gain (loss),
interest expense – NCM, equity in income of affiliates, loss on debt
amendments and refinancing, other cash distributions from equity
investees, depreciation and amortization, impairment of long-lived
assets, loss on disposal of assets and other, changes in deferred
lease expense, amortization of long-term prepaid rents and share
based awards compensation expense, as calculated below. Adjusted
EBITDA is a non-GAAP financial measure commonly used in our industry
and should not be construed as an alternative to net income as an
indicator of operating performance or as an alternative to cash flow
provided by operating activities as a measure of liquidity (as
determined in accordance with GAAP). Adjusted EBITDA may not be
comparable to similarly titled measures reported by other companies.
We have included Adjusted EBITDA because we believe it provides
management and investors with additional information to measure our
performance and liquidity, estimate our value and evaluate our
ability to service debt. In addition, we use Adjusted EBITDA for
incentive compensation purposes.

Reconciliation of Adjusted EBITDA

(unaudited, in thousands)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2018

2017

2018

2017

Net income

$

50,621

$

38,540

$

195,262

$

170,544

Add (deduct):

Income taxes

16,169

24,630

59,592

98,475

Interest expense

27,144

26,317

82,725

79,208

Other income

(8,810

)

(13,168

)

(15,247

)

(33,180

)

Loss on debt amendments and refinancing

—

—

1,484

246

Other cash distributions from equity investees (2)

4,786

2,402

21,041

17,321

Depreciation and amortization

64,971

58,052

193,656

174,545

Impairment of long-lived assets

1,641

5,026

5,020

9,600

Loss on disposal of assets and other

7,826

8,576

28,666

9,464

Deferred lease expenses - theatres (3)

216

(44

)

(252

)

(278

)

Deferred lease expenses - projectors (4)

(236

)

(253

)

(700

)

(741

)

Amortization of long-term prepaid rents (3)

578

551

1,814

1,540

Share based awards compensation expense (5)

3,486

3,043

10,364

9,487

Adjusted EBITDA

$

168,392

$

153,672

$

583,425

$

536,231

(2)

Represents cash distributions received from equity investees that
were recorded as a reduction of the respective investment balances.